Today's Market

The market ended down 460pts to close at 36234 on relatively lower turnover of 205mln shares and value traded of Rs9.2bln. Overall sentiment was hit hard by news of closure of FCCL's production line, uncertainty over the budget on June 3rd and the PM's open heart surgery on Tuesday. Value loss was pretty much across the board with blue chips and small caps hurt equally. MCB, HBL, OGDC, HUBC, FCCL, LUCK cost the index 240pts.

We expect the market to remain volatile.